Forum Archive Index - February 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi John,

>
>
>Limited Public Offering in  Feverpitch
>
>Good buy or goodbye?
>
>
This is a classic 'high risk' 'high return' offer.   Could be a 
superb performer or you could lose all your money.  

I notice that directors are being issued options at 50c.  In other 
words they are 'in the money' from day 1.  That is a little 
disappointing I think.

I also note that 1.5 million shares, or 18.75% of the shares on issue 
(assuming the current offer is fully subscribed)  have been given to 
the founders of the company as a result of the 'key transaction'.  
That represents around $750,000 in cash if the shares were cashed up 
at the offer price.  I think If I were a founder, I would be tempted 
to at least partially 'cash up' after listing.   And if I were a 
buyer, that might be a better entry time than throwing money into the 
Limited Public Offering.   All comments IMHO of course. SNOOPY










 
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